Small Business Archives

Tips for Overcoming Family Business Challenges

Family businesses provide a foundation for the Australian economy, employing half of the country’s workforce. Around the globe, around 80% of businesses are run by families. In Australia, this figure is 70%. Unfortunately, only 30% stay in business after the transition to the second generation. Even worse, only 12% of family-owned businesses survive to the third generation. Here we’ll uncover some of the challenges a family business can face and ways to overcome them.

a businesswoman working on online reputation management

6 Tips for Online Reputation Management

The online reputation of your business is something you might not think about until a problem arises. But how you are perceived online will influence whether potential customers will purchase your products or services. Let’s look at how you can protect your brand online and enjoy the benefits of online reputation management.

A State-By-State Guide to COVID-19 Lockdown Support

With current and recent lockdowns in several states affecting half of the population, state governments have stepped up with support packages to help businesses that have been negatively impacted. Here’s a summary of what’s available in states where businesses have felt the negative impacts of lockdowns.

a sole trader working on construction project, what is a sole trader

Sole Trader: FAQs about Australian Sole Traders

Accounting for 61 per cent of all businesses, sole traders are the engine of the Australian economy. While much of the media focus is on larger businesses traded on the ASX, small businesses run by sole traders provide a range of products and services to both consumers and businesses. Many sole traders provide trade, creative and professional services. Here we consider the sole trader definition, the most common questions asked about this business structure, and its advantages and disadvantages.

A Quick Moula Guide to the NSW COVID-19 Business Support Package

On 13 July 2021, the NSW Government announced a comprehensive support package for businesses across New South Wales to help them get through the COVID-19 lockdown. The total commitment will be up to $5.1 billion, which includes more than $1 billion in support from the Commonwealth Government as part of a program supporting businesses and employees.

Invoice Finance: How Much Does It Cost?

13 Jul. 2021
Team @ Moula
Finance

Invoice finance is one way businesses can improve their cash flow. Also known as debtor finance, cash flow finance, invoice discounting and accounts receivables finance, the dollar amount of invoice financing at any one time in Australia is around $75 billion, which is 3 per cent of GDP. While more businesses are using debtor finance to unlock the value of their unpaid invoices to improve working capital, it doesn’t come without a cost. Let’s look at the basics of invoice finance and unpack the elements that make up its cost.

Business Structure – What’s the Best One for Your Requirements?

The question of business structure does not come up too often. It’s usually when starting a new business or deciding to change an existing one, that the question of which is the best business structure comes up. Here we’ll consider factors to consider when choosing or changing a business structure and provide a brief overview of the legal business structures available.

people looking at tablet discussing a small business budget

Business Budget: 4 Steps for Creating One

A business budget is an essential document for analysing your business expenses and making decisions. Creating a business budget will also help you manage your cash flow and keep on track when unexpected expenses arise. To make this happen, let’s look at the steps you can take to create your business budget.

sme definition sme meaning sme australia

SME Definition: What Is an SME in Australia?

SME, meaning small-to-medium enterprise, is a term used to describe a range of businesses based on the number of employees or annual turnover. These enterprises represent the vast majority of businesses in Australia, employ millions of people, and are the engine of the economy, responsible for 55 per cent of GDP. But what’s the definition of SME? Here we look at small-to-medium-sized enterprises, how they are defined in Australia, and their economic impact.

How to Get an ABN: A Short Guide

If you’re starting a business, you might be asking “How do I get an ABN?” To help you with this important first step here’s a summary of the key points in getting an ABN, including what’s required and how long it takes to get one.

Small Business